Torrent to split stock in 1:2 ratio

PTIDec 15, 2005, 06.50pm IST

MUMBAI: Torrent Pharmaceuticals Ltd on Thursday said it will split equity shares of the company in the ratio of 1:2 and issue bonus shares.

The board of directors approved the splitting of equity shares of the company from face value of Rs 10 to Rs 5, so that the shareholders will get two equity shares of new face value for every existing equity share, the company informed the Bombay Stock Exchange.

The board also approved bonus shares in the ratio of one share for every share held, on a post-split basis to the equity shareholders of the company, it added.

As a result of these decisions, the equity shareholders will get four equity shares of Rs 5 face value for every equity share of Rs 10 held, it added.